Destination Maternity, provider of stylish maternity lingerie and clothing, reported a positive sales spike for the first quarter of this year. They revealed the results on Thursday.
The company struggled with store closings and other financial challenges in the past. However, the outlook for this year seems positive. This development led to the increase of its shares by 13 percent and early on during the trading this week, the stock broke a 52-week record.
The revenue is still lower than before but the measures done by the company resulted to a positive net income of $1.3 million. A year ago, the company lost $45.3 million on its shares due to the challenging economy.
Destination Maternity projects a $3.3 million increase later this year. Company CEO Ed Krell said that they will continue making aggressive actions to keep the momentum and hopefully reduce expenses but still come up with positive revenue figures.
